P.M. BRIEFING : Sony Earnings Up 44.4% in Quarter

Sony Corp. said today its earnings rose 44.4% in its third fiscal quarter on the strength of healthy sales gains.

Half of the 36.8% increase in quarterly sales was the result of Sony’s $2-billion acquisition of CBS Records Inc., which was announced in November, 1987, and took effect in January, 1988. By product area, Sony said sales rose 25% in video equipment, 16% in audio equipment, 9% in televisions and 22% in other products. Sony said its earnings for the period ended Dec. 31 totaled 28.9 billion yen, or $229 million, up from 20 billion yen a year earlier. For the first nine months of its fiscal year, Sony said its earnings rose 107% to 58 billion yen, or $461 million.